Financial activity based on natural peril events
First Claim
1. A computerized method of offering for purchase, positions predicting a future first natural peril landstrike resulting from a substantially continuous ongoing natural process culminating in a future first natural peril landstrike, comprising:
- providing a computer graphical user interface having first and second portions;
providing a database containing
1) a map of geographical areas corresponding to the positions to be offered for purchase,
2) strike probabilities of future first natural peril landstrikes for the geographical areas; and
3) offer prices for purchasing positions predicting future first natural peril landstrikes in respective geographical areas, that are based at least in part on respective strike probabilities;
displaying the map in the first portion of the graphical user interface with user selectable portions corresponding to the geographical areas of the map;
during the substantially continuous ongoing natural process, electronically obtaining updated data providing the basis for electronic calculations of strike probabilities of a future first natural peril landstrike for the geographical areas; and
in response to a user selecting a user selectable portion and thereby indicating a geographical area for selection, displaying in the second portion of the graphical user interface, an offer price, electronically updated in substantially real time so as to be based at least in part on an updated strike probability, for purchasing a position predicting the future first natural peril landstrike in the indicated geographical area.
1 Assignment
0 Petitions
Accused Products
Abstract
A financial activity network includes a central managing system connected to a plurality of participant terminals. Rules governing operation of the financial activity are stored for future reference. A participant provides investment information such as a map location for the predicted strike by the natural peril event and, optionally, one or more secondary parameters relating to the natural peril event, such as the time interval between the time of investment and the time of an event strike and/or the severity of the event strike according to an established scale. In one example, an external objective independent information source is consulted, with the external objective independent information source providing monitoring, interpretation and derived determination of parameters pertaining to the natural peril event. Methods and articles of manufacture are also disclosed.
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Citations
14 Claims
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1. A computerized method of offering for purchase, positions predicting a future first natural peril landstrike resulting from a substantially continuous ongoing natural process culminating in a future first natural peril landstrike, comprising:
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providing a computer graphical user interface having first and second portions; providing a database containing
1) a map of geographical areas corresponding to the positions to be offered for purchase,
2) strike probabilities of future first natural peril landstrikes for the geographical areas; and
3) offer prices for purchasing positions predicting future first natural peril landstrikes in respective geographical areas, that are based at least in part on respective strike probabilities;displaying the map in the first portion of the graphical user interface with user selectable portions corresponding to the geographical areas of the map; during the substantially continuous ongoing natural process, electronically obtaining updated data providing the basis for electronic calculations of strike probabilities of a future first natural peril landstrike for the geographical areas; and in response to a user selecting a user selectable portion and thereby indicating a geographical area for selection, displaying in the second portion of the graphical user interface, an offer price, electronically updated in substantially real time so as to be based at least in part on an updated strike probability, for purchasing a position predicting the future first natural peril landstrike in the indicated geographical area. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A system for offering purchase positions predicting a future first natural peril landstrike resulting from a substantially continuous ongoing natural process starting with a reported precursor tropical storm at sea and culminating in the future first natural peril landstrike, comprising:
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a computer interface module for electronically providing a graphical user interface having first and second portions; a database containing
1) a map of geographical areas corresponding to the positions to be offered for purchase,
2) electronically calculated strike probabilities of a future first natural peril landstrike for the geographical areas; and
3) offer prices for purchasing positions predicting a future first natural peril landstrike in respective geographical areas, electronically calculated, at least in part, on respective strike probabilities;the interface module communicating with the database to display the map in the first portion of the graphical user interface with user selectable portions corresponding to the geographical areas of the map; the database further containing electronically updated data during the substantially continuous ongoing natural process, that provides the basis for electronic calculations of strike probabilities of a future first natural peril landstrike for the geographical areas; and the interface module, in response to a user selecting a user selectable portion and thereby indicating a geographical area for selection, displaying in the second portion of the graphical user interface, an offer price, electronically updated in substantially real time so as to be based at least in part on an updated strike probability, for purchasing a position predicting a future first natural peril landstrike in the indicated geographical area. - View Dependent Claims (10, 11, 12, 13)
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14. An article of manufacture including a machine readable medium for causing a computer to perform a computerized method of offering for purchase, positions predicting a future first natural peril landstrike resulting from a substantially continuous ongoing natural process starting with a reported precursor tropical storm at sea and culminating in the future first natural peril landstrike, comprising:
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providing a computer graphical user interface having first and second portions; providing a database containing
1) a map of geographical areas corresponding to the positions to be offered for purchase,
2) strike probabilities of future first natural peril landstrikes for the geographical areas; and
3) offer prices for purchasing positions predicting future first natural peril landstrikes in respective geographical areas, that are based at least in part on respective strike probabilities;displaying the map in the first portion of the graphical user interface with user selectable portions corresponding to the geographical areas of the map; during the substantially continuous ongoing natural process, electronically obtaining updated data providing the basis for electronic calculations of strike probabilities of a future first natural peril landstrike for the geographical areas; and in response to a user selecting a user selectable portion and thereby indicating a geographical area for selection, displaying in the second portion of the graphical user interface, an offer price, electronically updated in substantially real time so as to be based at least in part on an updated strike probability, for purchasing a position predicting the future first natural peril landstrike in the indicated geographical area.
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Specification